New Zealand: Millet Market 2025

Millet Market Size in New Zealand

After three years of growth, the New Zealand millet market decreased by -11.2% to $X in 2022. In general, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Millet consumption peaked at $X in 2021, and then dropped in the following year.

Millet Exports

Exports from New Zealand

For the third consecutive year, New Zealand recorded decline in shipments abroad of millet, which decreased by -98.9% to X kg in 2022. Overall, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 47,128% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, millet exports shrank dramatically to $X in 2022. Over the period under review, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 33,076%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

French Polynesia (X kg) was the main destination for millet exports from New Zealand, with a 62% share of total exports. Moreover, millet exports to French Polynesia exceeded the volume sent to the second major destination, Macao SAR (X kg), threefold. The third position in this ranking was taken by Vanuatu (X kg), with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume to French Polynesia amounted to +42.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-6.8% per year) and Vanuatu (+32.0% per year).

In value terms, the largest markets for millet exported from New Zealand were French Polynesia ($X), Macao SAR ($X) and Vanuatu ($X), together comprising 96% of total exports.

French Polynesia, with a CAGR of +70.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average millet export price amounted to $X per ton, increasing by 265% against the previous year. In general, the export price posted a resilient increase. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to French Polynesia (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Millet Imports

Imports into New Zealand

In 2022, overseas purchases of millet decreased by -25.3% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports showed a mild curtailment. The growth pace was the most rapid in 2017 when imports increased by 43%. Imports peaked at X tons in 2021, and then dropped rapidly in the following year.

In value terms, millet imports fell to $X in 2022. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.1% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of millet to New Zealand, with a 60% share of total imports. Moreover, millet imports from Australia exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Australia totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.1% per year) and China (+3.2% per year).

In value terms, Australia ($X) constituted the largest supplier of millet to New Zealand, comprising 54% of total imports. The second position in the ranking was held by China ($X), with a 25% share of total imports. It was followed by India, with a 17% share.

From 2012 to 2022, the average annual growth rate of value from Australia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.6% per year) and India (+13.0% per year).

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, increasing by 20% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet import price increased by +89.3% against 2017 indices. The pace of growth appeared the most rapid in 2019 an increase of 21%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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